With insufficient funds raised from the winding down of electrical chain Comet, it will fall to the Government's Redundancy Payments Service to meet £23.2 million of outstanding redundancy pay, accrued holiday pay and pay in lieu of notice.

Comet's last remaining stores will trade for a final time on Tuesday Credit: Andrew Parsons/PA Archive

Deloitte has said the last 50 stores will close for the final time on Tuesday, amid speculation that the brand will be sold to an online retailer and around 20 shops picked up by rivals.

The Sunday Telegraph added that unsecured creditors also included ITV and Google, which are owed £1.2 million and £602,000 respectively for unpaid advertising bills, while holders of £4.7 million of unclaimed Comet gift cards and vouchers are also on the list.

However, an estimated £40 million of payments will be made to suppliers and £2.1 million of holiday and back pay owed to staff will be paid in full.

Comet have reportedly racked up losses of £95 million in the year to April, followed by a further £31 million in the subsequent five months as credit insurers lost confidence and withdrew support for the business.